Safe & Green announces settlement in legal action taken against stockholders

Safe & Green announced that a settlement agreement has been reached with two of its stockholders, resolving a previously announced, company initiated litigation. In connection with the settlement agreement, the company received a three-month irrevocable proxy, subject to extension, from the stockholders giving the Company the right to vote the shares of common stock held by them. As of September 26, the stockholders beneficially owned 3,970,100 shares which represents approximately 23.85% of the company’s issued and outstanding common stock.